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WikiLeaks cables: Saudi Arabia cannot pump enough oil to keep a lid on prices
The cables, released by WikiLeaks, urge Washington to take seriously a warning from a senior Saudi government oil executive that the kingdom's crude oil reserves may have been overstated by as much as 300bn barrels – nearly 40%.
Husseini said that ...... the Saudi energy industry had overstated its recoverable reserves to spur foreign investment.
The latest startling revelation to come via documents leaked to Julian Assange's muckraking website and published by The Guardian is should give pause to every suburban SUV-driver: U.S. officials think Saudi Arabia is overpromising on its capacity to supply oil to a fuel-thirsty world. That sets up a scenario, the documents show, whereby the Saudis could dramatically underdeliver on output by as soon as next year, sending fuel prices soaring.
Originally posted by Vio1ion
That would explain the motivation to drill in the gulf of Mexico despite all the risks. And two wars... and etc...
We should not underestimate the role that oil has on our lifestyle. The TPTB doesn't and I'm also sure that they know how easy a riot can start and expand, not forgetting the possibility of chaotic corruption.